When dealing with Division 7A loan agreements, it's crucial to adhere to specific timelines to ensure compliance with tax regulations. One of the most important deadlines to remember is that the loan agreement must be in writing before the company's tax return lodgement date for the financial year in which the loan was made.
Trusts are a popular vehicle for both investment and business purposes. One effective strategy that trustees often employ is the use of corporate beneficiaries to distribute trust profits. This approach can offer several tax planning advantages. Here’s a detailed look at how this strategy works and its implications. Understanding Corporate Beneficiaries A corporate beneficiary is
What is Division 7A? If you have a company within your family structure, it is likely that you have come across a tax concept called ‘Division 7A’. Division 7A is a set of rules within the Australian tax system, designed to prevent private company profits from being distributed to shareholders or their associates without
